ECON 1010 : chapter 27.doc

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14 May 2013
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Economics: canada in the global environment, 7e (parkin) 27. 1 fixed prices and expenditure plans: disposable income is, used for consumption only, aggregate income minus taxes plus transfer payments, aggregate income plus transfer payments, aggregate income minus taxes, aggregate income minus transfer payments. Topic: fixed prices and expenditure plans: dissaving occurs when a household, spends less than it receives in disposable income, spends more than it saves, saves more than it spends, consumes more than it receives in disposable income, borrows. Topic: fixed prices and expenditure plans: complete the following sentence. A household: consumes or pays taxes out of disposable income, consumes, saves, or pays taxes out of disposable income, consumes or saves out of disposable income, only consumes out of disposable income, none of the above. Topic: fixed prices and expenditure plans: the marginal propensity to save, equals 1 - mpc, is between zero and 1/2, is greater than 1, is greater than 1 but less than 2, is negative.

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